- There were 199,000 US jobs added in November.
- The unemployment rate dropped in November.
- A separate data release showed US job openings this past October were at the lowest figure since March 2021.
The US added 199,000 jobs in November according to the Bureau of Labor Statistics’ latest employment report.
The forecast for nonfarm payroll employment growth was 180,000. November’s growth beats October’s growth.
October’s growth was not revised. It was still a gain of 150,000 per the latest report. September’s growth was revised from 297,000 to 262,000.
The US unemployment rate was expected to be 3.9% again. It fell to 3.7%.
There were 8.7 million US job openings in October, according to Tuesday’s data release from the Bureau of Labor Statistics. This is the lowest number since March 2021. Health care and social assistance saw a pretty big drop compared to other labor market areas, with openings falling by 236,000.
The number of quits in October was pretty much the same as September at 3.6 million. The change in the number of hires was also pretty flat; hires fell by 18,000 to about 5.9 million hires in October.
Nick Bunker, economic research director for North America at the Indeed Hiring Lab, said in his Job Openings and Labor Turnover Survey commentary that “the current state of the labor market suggests no further recalibration is necessary to bring the labor market back into balance.” That’s because he said this is already the case for the labor market.
This is a developing story. Please check back for updates.
